The sequel will allow between two and four players to work together online, according to an Xbox.com marketplace listing (via Eurogamer).
It has been claimed that players could explore the wilderness together, or perhaps join each other's campaigns at specific moments.
Also confirmed is the return of online competitive multiplayer for between two and eight players, which has featured in the last two Assassin's Creed games.
Assassin's Creed III was officially revealed yesterday by Ubisoft, and will take place in colonial America during 1777.
It will feature a new lead named Connor, the offspring of an English father and Native American mother.
New abilities are expected to feature in the game, such as climbing trees and hunting wildlife, while recent screenshots showing various seasons suggest a story that takes place over several years.
Assassin's Creed 3 will be released for Xbox 360, PC, PlayStation 3 and Wii U on October 31 worldwide.
> Read our review of Assassin's Creed Revelations
View screenshots for Assassin's Creed 3 below: